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Capitulation

 
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tt



Joined: 02 May 2007
Posts: 19

PostPosted: Sat Jul 28, 2007 1:46 pm GMT    Post subject: Capitulation Reply with quote

It appears that the last of the naysayers have left (where's Condo?). This week finally marks an end of the MSM denial of the over whelming evidence of a major housing collapse. Even the shills from the Boston Globe realty blog are facing up to the facts. Now we began the necessary deep price corrections and work towards a realistic price-to-income ratio.....
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JCK



Joined: 15 Feb 2007
Posts: 559

PostPosted: Sun Jul 29, 2007 3:32 pm GMT    Post subject: Reply with quote

What's the evidence that Condo is/was wrong?

The latest reports show that downtown condo sales are strong.

http://www.boston.com/business/ticker/2007/07/boston_condo_sa.html
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tt



Joined: 02 May 2007
Posts: 19

PostPosted: Sun Jul 29, 2007 7:25 pm GMT    Post subject: Reply with quote

JCK wrote:
What's the evidence that Condo is/was wrong?

The latest reports show that downtown condo sales are strong.

http://www.boston.com/business/ticker/2007/07/boston_condo_sa.html


Home sales rose 100% in on my street last qtr, from zero sales to one. Th

Quick turn around from 3rd qtr last year...

quarterly statistics at the neighborhood level are subject to drastic fluctuations due to the smaller number of units trading hands, Back Bay sales dropped 23 percent, with the median price slipping 4 percent; Beacon Hill sales dropped 37 percent, with the median price decreasing 2 percent; and South End sales went down 2 percent, with the median price falling 3 percent.

http://www.bizjournals.com/boston/stories/2006/10/23/daily43.html?f=et54&hbx=e_du
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JCK



Joined: 15 Feb 2007
Posts: 559

PostPosted: Sun Jul 29, 2007 10:03 pm GMT    Post subject: Reply with quote

tt wrote:

Home sales rose 100% in on my street last qtr, from zero sales to one. Th


And central Boston had over 1000 transactions in the first six months of the year. So I'm unclear on your point.

Quote:
quarterly statistics at the neighborhood level are subject to drastic fluctuations due to the smaller number of units trading hands[/b], Back Bay sales dropped 23 percent, with the median price slipping 4 percent; Beacon Hill sales dropped 37 percent, with the median price decreasing 2 percent; and South End sales went down 2 percent, with the median price falling 3 percent.


It's not like I (or the article) used, for example, the Beacon Hill sales numbers to prove that Boston was doing well. If the market in the city overall is doing well through over 1,000 transactions, I think it indicates strength in this particular market. I don't see much basis for concluding otherwise, do you?

"Boston" is not what that articles means by "neighborhood level."
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JCK



Joined: 15 Feb 2007
Posts: 559

PostPosted: Sun Jul 29, 2007 10:05 pm GMT    Post subject: Reply with quote

Maybe you missed this from the article:

"Link tracks 12 core neighborhoods downtown, including South End, Back Bay, the waterfront, Beacon Hill, and the Leather District."

This is pretty much all of the in town market. The "neighborhood level" is one of the 12 core neighborhoods.
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tt



Joined: 02 May 2007
Posts: 19

PostPosted: Mon Jul 30, 2007 1:05 am GMT    Post subject: Reply with quote

JCK wrote:
Maybe you missed this from the article:

"Link tracks 12 core neighborhoods downtown, including South End, Back Bay, the waterfront, Beacon Hill, and the Leather District."

This is pretty much all of the in town market. The "neighborhood level" is one of the 12 core neighborhoods.


Maybe you missed that as recently as 8 months ago the same "in town market" that today is touted as booming was in dire straits. Way too small sample size to draw any conclusions, But hey, to each his own, go invest..... Very Happy
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